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House, Senate stimulus bill differences

Key differences between the $827 billion Senate version of
President Barack Obama's economic recovery plan and the $820
billion version that passed the House last month.

SPENDING

State aid: The Senate bill has $39 billion in education aid to
states. The House measure has $79 billion, including a $25 billion
block grant for other programs.

Direct aid to individuals: The Senate devotes $17 billion for
one-time $300 payments to Social Security recipients, poor people
on Supplemental Security Income and veterans receiving disability
and pensions. The House has $4 billion to provide a one-time
additional Supplemental Security Income payment to poor elderly and
disabled people of $450 for individuals and $630 for married
couples.

School construction: The House provides $19.5 billion to build
and repair school and university facilities. The money was stripped
from the Senate bill.

TAXES

Alternative minimum tax: The Senate devotes $70 billion to
"patch" the alternative minimum tax, saving more than 20 million
taxpayers a 2009 tax increase averaging about $2,000. The House
bill does not include that provision.

Homebuyer tax credit: The Senate provides $35.5 billion for a
$15,000 tax credit for purchasers of homes bought in the year after
the bill takes effect. The House includes $2.6 billion and limits
its smaller $7,500 credit to first-time homebuyers for homes
purchased from Jan. 1, 2009 to July 1, 2009 and phases out the
credit for couples making more than $150,000.

Carbuyer tax deduction: The Senate devotes $11 billion to make
interest payments on loans for new cars and automobile sales taxes
deductible. The House bill does not.